I recently heard Sarah Palin basically saying the same thing about the oil in Alaska. But she said when oil was $100+ that she didnât give into the state legislatureâs demands to spend money and instead put it into a rainy day fund. At $40, I wonder how much theyâre making now. Of course sheâll get no credit whatsoever for this.
It is what John Maynard Keynes said that gov't should do in good times, but the Keynsians must have decided that that part of his theory was too difficult (i.e., doesn't get votes).
Call it whatever you want. She rejected the idea of spending the excess cash knowing that $100+ oil might not last. Whether this was good planning or just coincidence, I guess weâll never know. Itâs a good rule for everybody to follow. Donât expect that the good times will keep on going. You donât think the Saudiâs know about this?
enron screwed a lot of people not just californians, but why is california in the most dire straits of all now (except maybe louisiana, but they have a slightly more legitimate excuse)
if they mean 40% of the total population, that's not so unbelievably bad since it includes children, who make up about 28% of the population. the remaining 10%+ are deadbeats. wish we could ship them off to afghanistan to defuse roadside bombs or do something useful.
Whatever is wrong is about to get a lot worse: http://news.yahoo.com/s/nm/20090210/us_nm/us_usa_prisons_california